EverWest Real Estate Investors Acquires Industrial Property In Pembroke Pines For $58.25M
SOLD
$58,250,000
Florida
See Similar DealsIndustrial248,770 SF
Sold 01/05/2022
SOLD
EverWest Real Estate Investors Acquires Industrial Property In Pembroke Pines For $58.25M
20351 Sheridan Street, Fort Lauderdale, Florida 33332, United States
See Similar DealsIndustrial248,770 SF
Sold 01/05/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$234
Total Square Footage:248,770 SF
Transaction Type:Sale
Located at 20351 Sheridan St. in Pembroke Pines, this industrial property was recently sold in a closed transaction. The property spans a total area of 248,770 square feet, with a price per square foot of $234. The sale was finalized on 01/05/2022.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $58,250,000
- Buyer: EverWest Real Estate Investors - Rick Stone
- Seller: Bang Energy - Jack Owoc
The buyer in this transaction was EverWest Real Estate Investors, represented by Rick Stone. On the other hand, Bang Energy, represented by Jack Owoc, acted as the seller. The property was sold for a total sale price of $58,250,000. This successful deal showcases the active industrial market in Pembroke Pines.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$206,949.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$276,134.72
Annual Debt Service$3,313,616.61
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